The Right Sales Process Wins More Deals, Bigger and Faster

Standard one-size-fits-all sales methodologies no longer work. The competitors can license the same sales methodologies from the same vendors you can, so there is no competitive advantage to be had by adopting the latest sales methodology from the sales
training industry. To increase deal sizes, improve win rates and shorten sales cycles, you need to adopt a custom, proprietary sales process/methodology.

In this post, we’ll help you determine whether your existing sales process is the right fit. We’ll compare the two types of sales processes (one and multi). And we’ll help you choose between them. It’s difficult to grow revenue faster than your industry’s growth rate and faster than your competitors. Leverage the How to Make Your Number in 2018 to access a revenue growth methodology to hit your number quarter after quarter, and year after year.

Your sales process is the key to consistent sales performance. The trick is picking the right type of process to use.

Signs Your Sales Process Is a Bad Fit:

If some or all of these apply, your sales process is ineffective. Worse, it may be backfiring.

Missing the number. This should prompt a thorough review.

Reduced deal size. Your average sales price (ASP) is down.

Sliding win rate. You’re just not closing sales like you used to.

Lengthy sales cycle. What once took you 180 days is now taking 210.

The way you’re losing. Are you losing to “do nothing,” or to a competitor? Perhaps you’re not clarifying your value proposition (“do nothing”). Or you’re not effectively addressing buyer needs (competitor).

To confirm your sales process is the culprit, conduct a win/loss analysis. Ask your customers why you’re winning. Ask past prospects why you lost, or why they never made a decision. Both groups will be happy to provide the answers you need.

Go ahead and use our Win/Loss Interview Guide to conduct your next Win/Loss review. We’ve included the right questions to ask to get quality feedback from customers and prospects. Get access to the Win Loss Guide.

One Sales Process – Pros and Cons:

Pros: A one-size-fits-all sales process couldn’t be simpler to develop. It doesn’t require much upkeep. And it’s easy for the sales team to adopt.

One sales process isn’t intimate or focused. It doesn’t attempt to meet buyers where they are. So it may create friction in the funnel. And make closing deals more challenging.

Now, Let’s Compare the Multi-Sales Process:

Pros: The multi-sales process is focused on the individual, not the company. It’s persona driven. You know the right questions to ask and what buyers value. And you understand the problem you’re helping them solve. As a result, the buying experience is more individualized. And when you lose, you’ll know exactly why—so your team can continually progress.

Know where you stand in your industry. How complex are your products? Are you deploying a complex solution in a simple, low-margin, commoditized industry?

Bottom Line:

A multi-sales process takes work to build, effort to maintain, and coaching to adopt. One sales process is far easier to implement. But there’s no shortcut to effectiveness. To choose the right path, you must understand your buyers, buying process, and competitive landscape.

In our judgment, a multi-sales process is the better way to go. It better equips sales reps and fosters continuous improvement. And it leads to greater revenue gains over time. For these reasons, we think it’s well worth the effort.

Have expectations gone up and left you wondering if you can make your number? Here is an interactive tool that will help you understand if you have a chance at success. Take the Revenue Growth Diagnostic test and rate yourself against SBI’s sales and marketing strategy to find out if:

Matt Sharrers

Matt Sharrers is the CEO of SBI, a management consulting firm specialized in sales and marketing that is dedicated to helping you Make Your Number. Forbes recognizes SBI as one of The Best Management Consulting Firms in 2017.

Over the course of nearly a decade at SBI, Matt Sharrers was an instrumental early partner guiding SBI as the Senior Partner. Matt’s functional responsibilities included acting as the head of sales where he led SBI’s double-digit revenue growth, and was responsible for the hiring function to build SBI’s team of revenue generation experts.

Prior joining SBI in 2009, Matt spent eleven years leading sales and marketing team teams as a Vice President of Sales. Matt has “lived in the field.” As a result, he is the foremost expert in the art of separating fact from fiction as it relates to revenue growth best practices. CEOs and Private equity investors turn to Matt’s team at SBI when they need to unlock trapped growth inside of their companies.